CJ CGV Launches into Myanmar Circuit

CJ CGV Launches into Myanmar Circuit

Article excerpt

South Korean exhibitor will start running Junction Cineplex in Myanmar from Dec 6.

Major South Korean exhibitor CJ CGV is launching into the Myanmar multiplex circuit.

The company announced today (Dec 2) the Burmese government has authorized their investment and they have established a joint venture with local corporation Shwe Taung Development (STD) to start running Junction Cineplex from Dec 6.

The first multiplex in Myanmar, Junction Cineplex was established in 2009 by Shwe Taung Group in the capital city of Naypyidaw. With an expansion to the country's economic centre of Yangon, Junction Cineplex now has three cinemas with a total of six screens that account for approximately 15% of the Burmese box office.

Jeong Seo, CEO of CJ CGV, said "the [South Korean] domestic exhibition market has more or less reached saturation" and that "CJ CGV is making global expansion a top priority".

CJ CGV was the first South Korean exhibitor to launch into the China market in 2006 and they now have 33 cinemas there, one in the US, 18 in Vietnam and 12 in Indonesia. …